A new stable and more responsive cost sharing solution for minimum cost spanning tree problems
AbstractMinimum cost spanning tree (mcst) problems try to connect agents efficiently to a source when agents are located at different points in space and the cost of using an edge is fixed. We introduce a new cost sharing solution that always selects a point in the core and that is more responsive to changes than the well-studied folk solution. The paper shows a sufficient condition for the concavity of the stand-alone cost game. Modifying the game to make sure the condition is satisfied and then taking the Shapley value gives the new solution.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 75 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/inca/622836
Minimum cost spanning tree; Private property; Common property; Core; Folk solution;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
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